Steyn Lyell Maeyane Attorneys v Oelofse (271/2016)
Steyn Lyell Maeyane Attorneys v Oelofse (271/2016) [2017] ZASCA 18 (23 March 2017)
The Supreme Court of Appeal held that the written undertaking issued by the appellant did not constitute an unconditional guarantee by the appellant itself to pay R1 million to the respondent. The undertaking, when read in context and against the factual matrix, amounted only to a confirmation of the terms of the profit sharing agreement between Abrina and the respondent, and not a personal guarantee by the appellant. The court found that the appellant did not hold funds in trust for Abrina at the relevant time and that it was improbable that the appellant would have bound itself unconditiona…
Source excerpt
- Interpretation Of Guarantee
- Contractual Undertakings
- Damages For Breach
- Admissibility Of Evidence